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03:55 PM

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Subject The Lease back option

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[quote:Doom Meister:MV8xNjU2NDg0XzI3MzY0Njg3X0YxQTZGOEJD]
"In some states, particularly those where only judicial foreclosure is available, the constitutional issue of due process has affected the ability of some lenders to foreclose. In Ohio, the federal district court for the Northern District of Ohio has dismissed numerous foreclosure actions by lenders because of the inability of the alleged lender to prove that they are the real party in interest.[3] In June 2008, a Colorado district court judge also dismissed a foreclosure action because of failure of the alleged lender to prove they were the real party in interest."

You see if you sold the mortgages in bundles on the stock market, to people in Asia, then maybe they are the party of interest.

But if they only own a portion of the mortgage, maybe they would have to have all the parties for one mortgage.

The fact is that Credit Default Swaps are not regulated, so who knows who owns what.

If Lehman Bros were allowed to go bankrupt and their board of directors were not help accountable, responsible for the debt, then an orderly bankruptcy for all involved banks would be your best way out.

Or act as agent, with written agreement from mortgage holders, foreclose.

The cavalry isn't coming over the hill. Job prospects are not good. Immigrants coming to buy them from Europe is not gonna happen, so that leaves Asia.

An Asian invasion. Which would change your culture dramatically if Asians came and bought all your houses.

You're screwed.

File for chapter 11 if you can. You are never gong to solve your default swap problem otherwise.
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Original Message [link to www.ft.com]

The problem is, if they can't afford a mortgage. how can they afford a lease?

Its an option but it is still a foreclosure and they could have to move if the property was sold.

And if they don't pay rent, then its easier to evict them as renters than as home owners.

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